How Will the Fiscal Cliff Affect the Housing Market?

Before we talk about how the Fiscal Cliff is going to impact housing, let’s talk a little about the hottest media topics in the last year and how those have panned out. Jeff, tell us about Greece.

Well, as you know, we went in to this year talking about how Greece was going to “explode,” and then Spain’s debt was going to lead them to explode and the “pigs” were going to destroy our economy…

I mean, scary stuff right?

The thing is, none of this really happened, and didn’t affect us in any way. So what else did they say was going to happen?

Well, what about the Euro crashing?

Well, that was tied to Greece because if Greece was going to go into turmoil they were going to have to defect from the Euro and the Euro value was going to head straight down and end up a parody with the U.S. dollar…

Didn’t happen! Let’s talk about gold!

When your waiter is telling you that you should buy gold that’s not the time it’s going to go to $3000…

Yeah, oh it was going to go to hard lending…they were going to go from appreciating at 9 or 10 percent and all of a sudden they were going to go down to not appreciating at all? Yeah, good call.

So, drum roll please!

The Fiscal Cliff!

The Fiscal Cliff…

So how is the Fiscal Cliff going to affect the Real Estate Market, nationwide? None. Really, it’s not even…well, locally here in Arizona we have low supply and high demand. And that’s what I’d be paying attention to. Just like we were telling people last year, when people were talking about Greece exploding and the Euro going down, we went up 34% while all that was going on!

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